CapitaLand Investment posts $287m profit in H1

Total revenue was $1.04b.

CapitaLand Investment Limited (CLI) reported a total PATMI of $287m for the first half of 2025.

The decline was due to asset divestments, lower fund performance and transaction fees, and the absence of a one-off tax write-back.

Operating PATMI, at $260m, remained anchored by CLI’s Fee Income-Related Business (FRB), which contributed around 60% of the total.

Despite the decline in earnings, CLI continued to see growth in recurring fee income, reflecting strong contributions from acquisitions by listed funds, new private funds, and new management contracts.

FRB revenue for 1H 2025 totaled $564m, comprising $151m from Listed Funds Management, $54m from Private Funds Management, $172m from Lodging Management, and $187m from Commercial Management.

Total revenue was $1.04b, lower than 1H 2024 following the deconsolidation of CapitaLand Ascott Trust (CLAS).

Excluding the CLAS impact and divested properties, CLI’s revenue grew 7%, supported by higher corporate leasing income in the U.S., new leased properties, and improved performance from lodging properties in Japan and Europe.

EBITDA for 1H 2025 came in at $581m, affected by CLAS’s deconsolidation, lower portfolio gains from asset recycling, divestments, and higher mark-to-market derivatives and foreign exchange losses.

Portfolio gains of $16m arose from changes in REIT ownership stakes and reversals of provisions for transaction costs no longer required.

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